Betfair was founded in the UK in 2000 and in 2004, signed a joint venture agreement with Australia’s Publishing and Broadcasting Limited. Since the site was awarded a non-exclusive license by the Tasmanian Gambling Commission in 2005, there have been upwards of 350 million bets placed, settling over 400,000 unique markets. Crown Resorts have been the full owners of Betfair Australia since 2014.
Today, Betfair is still the only betting exchange operating in Australia. This allows customers to bet on the outcome of events by buying and selling the outcome, trading in real-time throughout the event and trading out to cut their losses or lock in profit. This means that anyone can both back and lay. Betting exchanges usually gain profit by charging a transaction fee.
While the graphics might not be the most exciting, the site can be commended on how easy it is to use, both on desktop and mobile. The yellow and black colour scheme means you don’t have to spend a huge amount of time searching for what you’re looking for and the most popular sports are listed in a horizontal column at the top of the page. The ‘Quick Links’ column down the right-hand side of the page lists current or upcoming events and the column on the left lists sports alphabetically.
Betfair Australia is not short of betting options. The majority of foreign fixtures such as horseracing, football, rugby, and cricket are all covered on the site as well as AFL and NRL, which feature in the ‘Sport Highlights’ section on the homepage.
The contact page is designed well enough for customers to clearly see their options. Ways to get in touch include Live Chat, email and telephone – indeed, the opportunity to see a live demonstration of how a certain aspect of the Exchange works can be booked via the site’s help number. A list of FAQs is also available to see.
The Hub feature on the site is a blog of sorts that gives analysis and insights into betting strategy and is something that we assume many will find useful. There is also an ‘In-Play’ section that allows you to see what you can bet on as the games take place – but to place a live bet, you are required to pick up the phone.
Using the site on both desktop and mobile was easy enough and there weren’t any issues with speed, either. The same can be said of the app. One thing that particularly stood out was the Refer and Earn scheme that allows customers to gain $25 if they refer a friend to create an account on the site. You can learn more about this once you’ve signed up.
Deposit and withdrawal methods at Betfair include...
You cannot transfer funds from your Betfair account to cards issued in Australia. Instead, any winnings can be requested with an alternative payment method, subject to security checks, and will be processed in 1-5 working days. NAB customers depositing via Internet banking may receive funds within one hour if they have NAB SMS security set up.
Of course, the biggest thing that makes Betfair stand out in Australia is that it is the only betting exchange site in operation within the country. The website itself has an easy to use layout and a useful support system and can be accessed in a number of languages, immediately making it appeal to a wider market. These factors have all played a role in our decision to name Betfair one of the top sports betting sites in Australia.